Matlin & Partners Acquisition


July 16 merger announcement. 

Presentation July 16

Warrants - 2 plus $11.50. Call at 24

Trust = $10.11 ??  July 2018. At IPO $10.00

24 months to expire

32,500,000 shares sold in ipo including overallotment.

NEW CANAAN, Conn., March 9, 2017 /PRNewswire/ -- Matlin & Partners Acquisition Corporation (the "Company") announced today that it priced its initial public offering of 30,000,000 units at $10.00 per unit. The units will be listed on the NASDAQ Capital Market and trade under the ticker symbol "MPACU" beginning March 10, 2017. Each unit consists of one share of the Company's Class A common stock and one warrant, each warrant enabling the holder thereof to purchase one-half of one share of the Class A common stock at a price of $5.75 per half share ($11.50 per whole share). Warrants may be exercised only for a whole number of shares of Class A common stock.

formed by distressed asset investor David Matlin,

Cantor Fitzgerald & Co. will act as the sole book running manager for the offering.

Accordingly, we may amend the terms of the public warrants in a manner adverse to a holder if holders of at least 65% of the then outstanding public warrants approve of such amendment.

Under Mr. Matlin’s leadership and management, MatlinPatterson’s three distressed-for-control private equity funds, with nearly $9 billion in aggregate capital commitments, have invested more than $7.6 billion in 43 portfolio companies controlled by MatlinPatterson. “Control” means the ability to exercise control or substantial influence through significant board representation, substantial equity ownership, shareholder agreements and similar agreements and structures. At Credit Suisse, from 1994 to 2001, the Global Distressed Securities Group under Mr. Matlin’s supervision and management pursued both distressed-for-control and non-control distressed and special situation investing, and invested more than $4.4 billion in 261 portfolio companies, of which 37 were in distressed-for-control investments. During this period at Credit Suisse and MatlinPatterson, Mr. Matlin and individuals under his supervision have served on the board of directors of more than 51 companies, eight of which have been public, and all of which were directly related to investments made by Credit Suisse and MatlinPatterson, and have provided advice and assistance in a broad array of initiatives.

Our management team also includes Peter Schoels and Greg Ethridge.

Peter Schoels, one of our director nominees, also serves as Managing Partner of MatlinPatterson. Mr. Schoels is also a managing principal of MatlinPatterson Asset Management L.P. and its operating joint venture affiliates. Prior to joining MatlinPatterson, he was a Vice President of the Credit Suisse Global Distressed Securities Group, investing in North America, Latin America, and Europe. Prior to joining Credit Suisse, Mr. Schoels was a Director of Finance and Strategy of Itim Group Plc. Previously, Mr. Schoels was Manager of Mergers and Acquisitions for Ispat International NV, now ArcelorMittal, which specialized in buying distressed steel assets globally. Mr. Schoels serves on the board of directors of Flagstar Bank FSB, Flagstar Bancorp, Inc., CalAtlantic Group, Inc. and Crescent Communities, LLC, a multi-asset class real estate developer.

Greg Ethridge, our President, also serves as Senior Partner of MatlinPatterson. Prior to joining MatlinPatterson, Mr. Ethridge was a principal in the Recapitalization and Restructuring group at Broadpoint Capital, Inc. where he moved his team from Imperial Capital. Mr. Ethridge was a founding member of the corporate finance advisory practice for Imperial Capital LLC in New York. Prior to Imperial Capital, Mr. Ethridge was a principal investor at Parallel Investment Partners LP (formerly part of Saunders, Karp and Megrue) executing recapitalizations, buyouts and growth equity investments for middle market companies. Previously, Mr. Ethridge was an associate in the Recapitalization and Restructuring Group at Jefferies and Company, Inc. where he executed corporate restructurings and leveraged finance transactions, and before that he was a crisis manager at Conway, Del Genio, Gries & Co. in New York. Mr. Ethridge serves as chairman of

the board of directors of FXI Holdings Inc., a foam and foam products manufacturer, a director of Crescent Communities, LLC, a director of Advantix Systems Ltd. and Advantix Systems, Inc. and he is an observer on the board of CalAtlantic Group, Inc.